Chattogram Bureau :
The price of sugar is increasing. In the last two days, the price of sugar in the retail market has increased up to Tk10. Consumers complain that many retailers have reduced the sale of sugar, thinking that the price may rise further.
Therefore, many retail stores do not match the sugar.
On the other hand, the price has increased by Tk150 per maund in the last two days on the pretext of supply shortage in wholesale. All in all, the sugar market is currently in turmoil – that’s what market people say. Traders say that the price of sugar has been rising steadily for the past few months due to the rise in dollar value.
Now there is a supply crunch due to the reduced number of LCs (letters of credit) opened in banks.
Besides, the price of sugar in the international market is also high. Meanwhile, consumers say that it takes up to three to four months from the opening of the LC to the market. But the traders are now increasing the prices by giving the excuse of supply shortage. Regular monitoring can reduce the price. In the wholesale market of Khatunganj yesterday, it was found that sugar is being sold at Tk3,850 per maund. It was sold two days ago for Tk3,700.